Selling and then Buying seperately

[areyouhavingagiraffe]

Hi all,
I've posted on here a few times about possibly breaking my chain. The place I am purchasing does not have any sign off from Building Control for works to the Loft, and following advice I am minded not to proceed with the Purchase. My Sale (has also been a bit of a ball ache), but we are at the stage where all Enquiries are addressed and we are ready to Exchange. I have a good relationship with by Buyer, he is FTB and been very patient.
I am going to now split my Sale and Purchase; my parents live nearby (few miles away), and have a large house with lots of storage. I live alone and I am likely to move in with them following my Sale, and then me and Dad will start the house hunt again. I am very close to them, but I think it will feel a little weird for a while. I am just wondering whether anyone else has done a similar thing where you have split the Sale and Purchase, maybe not necessarily moving in with family, mabybe rentals and was hoping for some good news stories really.
I love the house I was planning to purchase, but it too much of a risk for me and I need to think with my head. I was viewing around March / April, market was mental and it was so hard to even view. I have noticed the last few weeks Agents have been contacting me to see whether I would be interested in viewing places (that was not happening before), so I don't know whether the market has calmed, maybe only slightly, but I guess I will be a chain free buyer which I hope will be an advantage to me.
I just hope I can find my dream house and this isn't the one that got away......

Should also say that my Sale is a flat and I am getting more that I would have imagined for it!

I've noticed where I'm buying that there seems to be a bit more coming to market. I assume some of it is from chain breaks or collapses. But also other people just thinking wait until end of June when all the hullabaloo dies down a bit, and probably waiting to see if those houses come onto the market as well. A trickle though, not a flood.

Sounds like a very sensible idea if you can keep the costs down by not having to tie into a contract for rental or pay for storage. I wish I could do the same thing, family have said I could stay with them rent free but they live completely the wrong direction!

Thanks @readytosell. It just doesn't make sense proceeding with purchase given all the risks.

we also have had to break chain and have sold our house but we are renting it from our buyer till ours is ready - it is so stressful .

I did this - I think if you can it is a good idea ( as long as there aren't massive market value changes while you are out the housing market)

Advantages are:

Cash buyers or low LTV borrowers are the most desirable purchasers so you make yourself attractive to sellers

And - being chain free makes your home attractive to buyers so you can get a good sale price because they know there will be no hold ups.

We did this. Moved in with my mum with my DH and two toddlers. It was weird. It was cramped. It was the first lockdown. But it was fine. And we got a lovely house 9 months later. You'll be fine!

@beggingforsleep

We did this. Moved in with my mum with my DH and two toddlers. It was weird. It was cramped. It was the first lockdown. But it was fine. And we got a lovely house 9 months later. You'll be fine!

I'm so glad. And this is what I wanted to hear xxxx

I did this - I was moving to a new area so I sold my flat and put most of my stuff in inaccessible storage, a few bits in a family member’s storage cupboard and rented a room off spare room.com for what ended up being 6 months.

It made moving really easy - the place I bought was near to where I was lodging so I could complete one day, clean over a couple of days, the movers then dropped everything off after the cleaning was done and assembled and put the large pieces of furniture in the right places. I then spent the next week after work plus a weekend unpacking and putting things in the correct places while being able to go back to where I was living to eat and sleep before moving in properly.

I am considering moving again soon (I’m now permanently WFH and I’d like more space) and if possible I intend to do the same. Having read about the stress caused trying to get out of one property and into another in one day, I’d like to avoid that if at all possible.

I'm doing this, not by choice though. First hoyse seller didn't find a place to buy and I pulled out (he has since taken it off the market), second I was on course to make stamp duty, moved out of mine in to a holiday let, then seller got ill and withdrew. I've found another, empty house to buy, but it will take at least four weeks so paying thousands for another holiday let. It stings, as I'm paying about £20k more than if I'd bought the second house, but my third house is cheaper and needs less work. No family to house me, plus I've got kids and dogs.

Thanks all. I hope I find somewhere, but I guess there's no pressure as I won't be renting.

I’m doing this - moving out of our current home today to complete the sale on Monday, moving in with family and hopefully purchasing a house that isn’t available until September